Shaker Heights in Cleveland has some of the highest property tax rates in the state (roughly $3,700 per $100,000 of assessed home value).
Credit Brian Bull / WCPN
Millions of homeowners are finding out that their property taxes are either holding steady or climbing, even as their house may be worth much less. There may not be much they can do about it.
In Ohio, Cuyahoga County's fiscal officer, Wade Steen, has been taking many calls from unhappy homeowners. He says they most often live in a community where voters passed a recent levy. That's a property tax measure that boosts funding for things such as schools and libraries.
Join host Tess Vigeland and contributors from The New York Times this Saturday at Noon, for a report that really hits home. This special episode of Marketplace Money, entitled "Which Way Home", will ask if home ownership is still a part of the American Dream.
There's long been a big gap between the wealth of white families and the wealth of African-Americans and Hispanics. But the Great Recession has made it much worse — the divide is almost twice what it used to be.
That's according to a new study by the Pew Research Center, which says that the decline in the housing market is the main cause.